April Tax Newsletter

State and Local Tax – Something to think about… California Wildfire Credit

President Trump signed a Bill that provides a credit to certain California taxpayers located within the areas impacted by the recent California wildfires. The bill is known as the Bipartisan Budget Act of 2018, H.R.…

Estate Planning – How To Avoid California Property Tax Reassessment Through Proper Use of Parent-Child Exclusion

When dealing with a death in the family and administering assets of the deceased family member, the county-level property tax reassessment rules for transfers of California real estate are often overlooked. Generally, the taxable value…

M&A Tax Planning – Qualified Small Business Stock – Potential for Large Gain Exclusion on Sale

Section 1202 was passed to encourage economic activity, employment, and investment in new ventures and small businesses. Under section 1202, a non-corporate taxpayer is able to exclude gain from the sale or exchange of qualified…

International Tax – Impact of §965 on Subchapter S Corporations

HR1, also known as the “Tax Cuts and Jobs Act” (“the Act”), imposes a one-time transition tax on U.S. Shareholders of Specified Foreign Corporations (“SFC”), including S corporations, through a mandatory repatriation as set forth…